The analyst under the pseudonym Darkfost noted that the Sharpe coefficient for Bitcoin fell within an extremely negative range ( 20... 21) which in previous cycles had accompanied periods of maximum pessimism. A metric measuring the ratio of yield to risk shows that current volatility does not pay off as a result of investment. At the end of June, the figure reached a low since the end of 2022, after which it partially recovered.

Bitcoin closed the third consecutive quarter with a decline of 14.09% over the last period. Darkfost noted that historically, such periods of pronounced pessimism often coincided with the formation of a foundation before a subsequent recovery, but emphasized the long-term nature of this signal. At the same time, the analysts of Exitpump recorded an increase in spot sales with a relatively neutral position in the futures market.

Trader Killa has designated $60,400-60,900 as a key zone for Bitcoin: losing this range on retesting could open the way to updating minimums. Earlier, CryptoQuant warned about the risk of rising volatility amid increasing amounts of deposits on the exchange.

***

The material is prepared solely for informational purposes and does not constitute a financial advice or recommendation.